Zcash (ZEC) Eyes $200: Will the 30% Rally Lead to a Strong Weekly Finish?
- A 30% recovery in Zcash has pushed the price to $172.
- Daily trading volume for ZEC has surged by over 71%.
With a brief spike, the global crypto market opened the new trading day, leaving both the red and green shades alive across the assets. The overall market sentiment is neutral, as the Fear and Greed Index value sits at 58. Bitcoin (BTC) and Ethereum (ETH), the largest assets, are seeking to regain lost ground. Meanwhile, one of the top trending coins is Zcash (ZEC).
In the early hours, the asset traded at a bottom range of $132.14, and the potential bullish encounter has taken control of the ZEC price, leading it to climb to a high of $184.86. The asset has convincingly tested and broken the crucial resistance zones to confirm the uptrend between $133.76 and $183.48. The asset’s 30.42% recovery has made the Zcash trade at around $172.35.
The asset’s market cap is found at $2.79 billion, with the daily trading volume of ZEC having soared by over 71.62%, reaching the $719.52 million mark. In addition, within the last 24 hours, the market has experienced an event of liquidation of $2.84 million worth of Zcash, as reported by the Coinglass data.
Zcash Signals Flash Green: Price Momentum Rises
On the 4-hour charts, the ZEC/USDT trading pair is having bulls in control, lighting up strong green candlesticks. The price could climb and hit its resistance at around $173. Further upside correction may trigger the bulls and send the asset’s price up. Conversely, upon a momentum reversal, the Zcash price might fall and find the nearest support at $171. Extended bearish pressure would push the mighty bears out and drive the price even lower.
Zcash’s technical indicator analysis reports that the MACD line is settled above the signal line, giving a positive outlook. The asset’s momentum is shifting toward buyers and may be strengthening the active bullish trend. Moreover, the CMF indicator of ZEC at -0.02 shows a slight bearish sentiment. There is a small amount of selling pressure in the market, with the money flowing out of the asset, but not strongly.
Also, the asset’s daily RSI of 61.61 indicates moderate bullish momentum. The asset has enough room for further upside before hitting the overbought territory, above 70. Zcash’s BBP value of 24.01 suggests strong dominance of bulls. The buyers are significantly outweighing sellers, applying upward pressure on the price, with a possible continuation of the current uptrend if momentum holds.
The ongoing ZEC market sentiment exhibits a bullish presence. If they gained more strength, the current momentum will go further. Assuming the bulls lose their hold, the potential bears may step in, pulling the price back. For a clearer perspective on the asset’s trajectory, explore our comprehensive multi-year outlook, which provides a detailed price forecast for Zcash (ZEC) covering 2025, 2026, and the entire period through 2030.
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Zcash (ZEC) Eyes $200: Will the 30% Rally Lead to a Strong Weekly Finish?
- A 30% recovery in Zcash has pushed the price to $172.
- Daily trading volume for ZEC has surged by over 71%.
With a brief spike, the global crypto market opened the new trading day, leaving both the red and green shades alive across the assets. The overall market sentiment is neutral, as the Fear and Greed Index value sits at 58. Bitcoin (BTC) and Ethereum (ETH), the largest assets, are seeking to regain lost ground. Meanwhile, one of the top trending coins is Zcash (ZEC).
In the early hours, the asset traded at a bottom range of $132.14, and the potential bullish encounter has taken control of the ZEC price, leading it to climb to a high of $184.86. The asset has convincingly tested and broken the crucial resistance zones to confirm the uptrend between $133.76 and $183.48. The asset’s 30.42% recovery has made the Zcash trade at around $172.35.
The asset’s market cap is found at $2.79 billion, with the daily trading volume of ZEC having soared by over 71.62%, reaching the $719.52 million mark. In addition, within the last 24 hours, the market has experienced an event of liquidation of $2.84 million worth of Zcash, as reported by the Coinglass data.
Zcash Signals Flash Green: Price Momentum Rises
On the 4-hour charts, the ZEC/USDT trading pair is having bulls in control, lighting up strong green candlesticks. The price could climb and hit its resistance at around $173. Further upside correction may trigger the bulls and send the asset’s price up. Conversely, upon a momentum reversal, the Zcash price might fall and find the nearest support at $171. Extended bearish pressure would push the mighty bears out and drive the price even lower.
Zcash’s technical indicator analysis reports that the MACD line is settled above the signal line, giving a positive outlook. The asset’s momentum is shifting toward buyers and may be strengthening the active bullish trend. Moreover, the CMF indicator of ZEC at -0.02 shows a slight bearish sentiment. There is a small amount of selling pressure in the market, with the money flowing out of the asset, but not strongly.
Also, the asset’s daily RSI of 61.61 indicates moderate bullish momentum. The asset has enough room for further upside before hitting the overbought territory, above 70. Zcash’s BBP value of 24.01 suggests strong dominance of bulls. The buyers are significantly outweighing sellers, applying upward pressure on the price, with a possible continuation of the current uptrend if momentum holds.
The ongoing ZEC market sentiment exhibits a bullish presence. If they gained more strength, the current momentum will go further. Assuming the bulls lose their hold, the potential bears may step in, pulling the price back. For a clearer perspective on the asset’s trajectory, explore our comprehensive multi-year outlook, which provides a detailed price forecast for Zcash (ZEC) covering 2025, 2026, and the entire period through 2030.
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